Entropy Technologies LP Sells 12,974 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Entropy Technologies LP decreased its holdings in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 57.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,751 shares of the company’s stock after selling 12,974 shares during the period. Entropy Technologies LP’s holdings in 10x Genomics were worth $220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its position in shares of 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of 10x Genomics by 1,136.2% in the 1st quarter. Russell Investments Group Ltd. now owns 146,444 shares of the company’s stock worth $5,496,000 after acquiring an additional 134,598 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of 10x Genomics by 3.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 93,224 shares of the company’s stock worth $3,499,000 after acquiring an additional 3,486 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after acquiring an additional 90,204 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of 10x Genomics in the 1st quarter worth approximately $1,340,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup decreased their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Stephens reissued an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Barclays reduced their price objective on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Leerink Partners initiated coverage on 10x Genomics in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, 10x Genomics has an average rating of “Moderate Buy” and a consensus target price of $29.19.

10x Genomics Price Performance

TXG stock opened at $13.34 on Monday. The company has a market cap of $1.61 billion, a P/E ratio of -8.72 and a beta of 1.87. 10x Genomics, Inc. has a 1 year low of $13.30 and a 1 year high of $57.90. The stock’s fifty day moving average price is $18.42 and its 200-day moving average price is $20.35.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the business posted ($0.51) EPS. As a group, analysts expect that 10x Genomics, Inc. will post -1.4 earnings per share for the current year.

Insider Transactions at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the transaction, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 6,749 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the transaction, the chief executive officer now owns 882,467 shares in the company, valued at $19,881,981.51. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,061 shares of company stock worth $316,794 in the last ninety days. Insiders own 10.03% of the company’s stock.

10x Genomics Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.